Steel Dynamics, Inc. (NASDAQ:STLD) Receives $144.29 Average Price Target from Brokerages

Steel Dynamics, Inc. (NASDAQ:STLD) has been assigned an average rating of “Hold” from the seven ratings firms that are covering the firm, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $144.29.

A number of brokerages have recently weighed in on STLD. BMO Capital Markets lifted their price target on Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a report on Friday, October 18th. Morgan Stanley dropped their target price on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 18th. UBS Group raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and increased their price target for the stock from $129.00 to $145.00 in a research report on Tuesday, September 3rd. Bank of America raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $140.00 to $155.00 in a research report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. increased their target price on shares of Steel Dynamics from $129.00 to $134.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th.

Steel Dynamics Stock Performance

Shares of STLD opened at $137.81 on Tuesday. The company has a 50-day moving average of $128.41 and a two-hundred day moving average of $127.08. The stock has a market cap of $20.98 billion, a price-to-earnings ratio of 12.47 and a beta of 1.31. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.39 and a quick ratio of 1.26. Steel Dynamics has a one year low of $104.60 and a one year high of $155.56.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Wednesday, October 16th. The basic materials company reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.07. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The firm had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.18 billion. During the same quarter last year, the business posted $3.47 EPS. The company’s revenue was down 5.4% on a year-over-year basis. On average, equities research analysts expect that Steel Dynamics will post 10.18 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend is Tuesday, December 31st. Steel Dynamics’s dividend payout ratio (DPR) is presently 16.65%.

Insiders Place Their Bets

In other news, SVP Miguel Alvarez sold 6,650 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $143.00, for a total transaction of $950,950.00. Following the completion of the sale, the senior vice president now owns 116,949 shares in the company, valued at approximately $16,723,707. This represents a 5.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Glenn Pushis sold 17,941 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $133.09, for a total value of $2,387,767.69. Following the completion of the transaction, the senior vice president now directly owns 146,693 shares in the company, valued at $19,523,371.37. The trade was a 10.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,591 shares of company stock valued at $3,608,438 over the last ninety days. Corporate insiders own 6.00% of the company’s stock.

Institutional Trading of Steel Dynamics

A number of institutional investors and hedge funds have recently modified their holdings of the company. Trustmark National Bank Trust Department raised its holdings in Steel Dynamics by 126.6% in the 1st quarter. Trustmark National Bank Trust Department now owns 7,134 shares of the basic materials company’s stock worth $1,057,000 after acquiring an additional 3,986 shares during the period. Bessemer Group Inc. increased its stake in shares of Steel Dynamics by 2,679.3% in the first quarter. Bessemer Group Inc. now owns 10,867 shares of the basic materials company’s stock worth $1,611,000 after purchasing an additional 10,476 shares during the period. LBP AM SA lifted its position in shares of Steel Dynamics by 26.5% during the 1st quarter. LBP AM SA now owns 21,966 shares of the basic materials company’s stock worth $3,256,000 after purchasing an additional 4,599 shares during the last quarter. M&G Plc bought a new stake in Steel Dynamics during the 1st quarter valued at approximately $9,478,000. Finally, UniSuper Management Pty Ltd boosted its stake in Steel Dynamics by 372.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 8,906 shares of the basic materials company’s stock valued at $1,320,000 after purchasing an additional 7,019 shares during the period. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Steel Dynamics Company Profile

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. The Steel Operations segment offers hot rolled, cold rolled, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing steel bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars; channels, angles, flats, merchant rounds, and reinforcing steel bars; and specialty shapes and light structural steel products.